Carolina Rush names Patrick Quigley VP Exploration; grants RSUs, options, extends warrants

Toronto, Ontario--(Newsfile Corp. - July 14, 2026) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) (the " Company ") announces that Mr. Patrick Quigley has been appointed Vice President of Exploration of the Company effective immediately. Carolina Rush CEO Layton Croft stated: "Patrick is an exceptional economic geologist who has consistently performed at a high level since joining our team in mid-2020. He was appointed Senior Geologist and Exploration Manager in January 2022, and serves as our Qualified Person.

Patrick's 18 years of professional experience spans the United States and parts of Latin America. His extensive knowledge of exploration opportunities in the southeastern U.S. includes unmatched expertise of Brewer's large, complex, and highly prospective gold-copper epithermal-porphyry system. I am grateful to Patrick for his dedication, technical excellence, leadership, and integrity.

Our Company is stronger with Patrick serving as our Vice President of Exploration." On July 9, 2026, the Company granted an aggregate of 1,035,000 restricted share units (the " RSU ") and 1,075,000 stock options (the " Options ") to certain directors, officers, employees and consultants of the Company. The RSUs shall vest as to 1/3 on the first anniversary of the date of grant; 1/3 on the second anniversary of the date of grant; and 1/3 on the third anniversary of the date of grant. Each Option entitles the holder thereof to purchase common shares (the " Common Shares ") in the capital of the Company exercisable at a price of $0.16 per Common Share for a period of three (3) years from the date of issuance.

The Common Shares issuable upon exercise of the Options are subject to a four-month hold period from the original date of grant. In addition, subject to the required approval from the TSX Venture Exchange, the Company intends to extend the expiry date of an aggregate of 7,624,468 Common Share purchase warrants (each, a " Warrant "). The 7,624,468 Warrants were originally issued pursuant to a brokered private placement offering of 14,238,236 units in the capital of the Company at a price of $0.15 per unit which closed on August 15, 2023.

Each unit was comprised of one Common Share and one-half of one Warrant. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 until August 15, 2026. The Company will enter into a supplemental warrant indenture amending the expiry date of the Warrants from August 15, 2026 to August 15, 2027.

All other terms and conditions of the Warrants remain unchanged. About Carolina Rush Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is a mineral exploration company focused on the discovery of gold and copper deposits in the southeastern United States. The Company is advancing the Brewer Gold-Copper Project in Chesterfield County, South Carolina.

Brewer is a large, underexplored hydrothermal system with a near-surface epithermal gold NI 43-101 mineral resource and compelling exploration potential for deeper porphyry copper-gold mineralization. Brewer is currently being explored in partnership with OceanaGold Corporation (TSX: OGC) (NYSE: OGC) under a US$20 million earn-in agreement. Brewer is located 13 km from OceanaGold's producing Haile Gold Mine.

Information from nearby properties is not necessarily indicative of the mineralization at Brewer. For further information, please contact: Jeanny So, Corporate Communications Manager E: info@thecarolinarush.com T: +1.647.202.0994 For additional information please visit our new website at http://www.TheCarolinaRush.com/ and our X feed: https://twitter.com/TheCarolinaRush . Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information.

Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca . Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information.

The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304995 Newsfile Corp. July 14, 2026 - 3:30 AM PDT News by QuoteMedia www.quotemedia.com